Member Info for Stupmy

I can see it's moving, but why is the volume not increasing if it's II buying or short covering. I don't think it is. Unless there's something I don't understand about my volume data (entirely possible).

From what I'm looking at Jimmy, the volume is low and has been falling pretty well each 2h period since 9 am Nov 7th. Not sure why you talk about II's buying back in volume.

Brent dropping quite hard all the same bonker. You'd have though with 25% of the GOM oil output shut in we'd see a rise or at least a stable POO. What's causing the drop?

I'd argue that using TA and common sense gives me a much higher than 50% success rate. But the funny thing about gut feeling is that it's often based on a lot of solid experience and knowledge, so although I was 'trite', I don't dismiss gut feeling. I personally back it up with a some rules though

Ice does that mean the large write downs in intangibles represent WG having overpaid for an acquisition? i.e. they paid a particular sum including intangible assets then wrote it down? Am I thinking along the write lines? Could easily be completely missing the point and happy to accept it. Thanks for what you've posted.

The only acquisition I can see is 2017 when they paid 2.7 billion dollars for Amec Foster Wheeler.

Here's a piece with a bit more detail on the review.

https://www.agcc.co.uk/news-article/wood-group-in-crisis-as-shares-crumble-60-following-after-review-announced

On the macro and company specific aims I agree and am bullish, but despite feeling bullish, I think it's still conceivable we could be knocked of course. I'm really hoping for a solid set update and some good news on our acquisition plans, which you'd imagine should give us a boost, but the SP action is still not that great (although I view it positively). I've added quite a lot during this rise, but am still underwater overall.

"Volume and trend has been positive"

What do you mean by that? I'm looking at volume over time and without you stating a timeframe it's impossible to understand the point you're making? For example from Oct 30th, the volume trend is down. From Jun 18th, you could easily argue it's been up and down but overall flat. I can't easily see a time frame that would give us a volume trend that is positive. Unless of course my data (IT finance I think) is off. Even the statement that the 'trend' is positive is of no value without time frames. On the 1 day chart price has been rising since Oct 21st. But it's been falling since April 17th and there is no clear change in trend.

I'm bullish and I think the SP is out performing currently bearing in mind the weakness in POO, but without using some specifics in your post it just looks to be what you want to see, rather than what is happening.

"Some folk are so wedded to the idea of a share price finding support. It’s a random walk in reality, like throwing a dice at the casino"

You seem to be suggesting that using supports etc is not rational. Yes, much better to listen to your guts, that kind of method is certainly not to be sniffed at.

It doesn't add anything to the speculation of whether the findings might be serious or largely inconsequential, but could be interest going forward to try to understand why this is happening now. As you say, maybe kitching sinking to underscore his tenure vs that of his predecessor. That would seem coherent to me.

OK, went back and checked. Lochnagary stated CEO in place since June 22 (I read it as 22n of June). That's the confusion.

Was the comment from Lochnagary that he'd been in place from June (I assumed 2024 as he said he'd been in place for a few months). I've just checked that and see it's July 2022. Didn't mean to confuse. But I did check the CFO appointement and that was April this year, so I still see some validity in my post. It's just for discussion, but it seems a coherent line of thought that new CFO would take a certain amount of time to check the different aspects of the business. As previously stated, I don't have direct experience so I'm speculating for the sake of discussion.

Worst, the market is clearly telling you that there is no credible rumour of a t/o or merger above the current SP. Doesn't mean it couldn't happen, but it's nonsense for the moment.

Lochnagary, with the CEO in place since June and the CFO in place since April, does that no fit with the idea that the incoming team is trying to clear up some sort of inconsistency. I have no accountancy experience, but could you really be confident that all of this should have been spotted /dealth wtih very quickly following these new appointments, is it not possible it's taken time (maybe the good will element and the specific projects led to that part of any review undertaken by the new team, being initially focussed on other parts of the business, but they've found something that needs addressing more recently? I'm not saying it's any more significant that suggested by Jxp or Ice, just that that narrative would seem potentially coherent from a non-expert point of view.

Couldn't agree more. Doubt very much we'll get close to 45p!! Enjoy the beers.

Thanks Rick, so at float it was in the 40-50p area so there is some data on a chart that might give some support lines and we're not at an all time low.

Hourly volume has ticked up. Someone looks to be selling into the close. Doesn't bode well for the start of the week. Not sure why but my data only goes back to 1999. From that time the current SP is at the lowest it's been. I'm not sure how to try to make an estimate of where it might slow or turn from here. It was floated in 1984 on LSE, so there should be other data out there. Not sure I don't have acess to that on my charts. Anyone have a chart from 1984 to now?

I've managed to get data now from 1995 but we're still currently lower than the SP at that time.

Apologies, wrong bb for the previous post.

Hourly volume has ticked up. Someone looks to be selling into the close. Doesn't bode well for the start of the week. Not sure why but my data only goes back to 1999. From that time the current SP is at the lowest it's been. I'm not sure how to try to make an estimate of where it might slow or turn from here. It was floated in 1984 on LSE, so there should be other data out there. Not sure I don't have acess to that on my charts. Anyone have a chart from 1984 to now?

9-10% in a day is a good margin. Good work from whoever was doing it.